Agnico Eagle Mines (NYSE:AEM) Rating Increased to Strong-Buy at Stifel Canada

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) was upgraded by equities research analysts at Stifel Canada to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports. Stifel Canada also issued estimates for Agnico Eagle Mines’ FY2028 earnings at $2.62 EPS.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada raised their price target on Agnico Eagle Mines from $96.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. StockNews.com lowered Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Raymond James set a $105.00 price objective on Agnico Eagle Mines and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised their price objective on Agnico Eagle Mines from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Tuesday, January 7th. Finally, TD Securities cut their price objective on Agnico Eagle Mines from $108.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Buy” and an average price target of $95.78.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $105.44 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $95.37 and its two-hundred day simple moving average is $86.66. The stock has a market cap of $53.04 billion, a PE ratio of 27.90, a P/E/G ratio of 0.66 and a beta of 1.00. Agnico Eagle Mines has a 52 week low of $55.64 and a 52 week high of $107.88.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last posted its quarterly earnings results on Thursday, February 13th. The mining company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.44). Agnico Eagle Mines had a net margin of 22.88% and a return on equity of 10.45%. As a group, analysts forecast that Agnico Eagle Mines will post 4.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Agnico Eagle Mines by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,854 shares of the mining company’s stock worth $91,681,000 after acquiring an additional 32,991 shares in the last quarter. Bridgewater Associates LP boosted its position in shares of Agnico Eagle Mines by 123.2% during the third quarter. Bridgewater Associates LP now owns 204,168 shares of the mining company’s stock valued at $16,448,000 after buying an additional 112,712 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Agnico Eagle Mines by 78.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,259 shares of the mining company’s stock valued at $255,000 after buying an additional 1,431 shares during the period. Caldwell Investment Management Ltd. boosted its position in shares of Agnico Eagle Mines by 12.0% during the fourth quarter. Caldwell Investment Management Ltd. now owns 87,700 shares of the mining company’s stock valued at $6,812,000 after buying an additional 9,400 shares during the period. Finally, Forsta AP Fonden boosted its position in shares of Agnico Eagle Mines by 8.9% during the fourth quarter. Forsta AP Fonden now owns 195,100 shares of the mining company’s stock valued at $15,256,000 after buying an additional 16,000 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.